In a meeting with Prime Minister J.Erdenebat, Vice President of the Asian Infrastructure and Investment Bank (AIIB) D.J. Pandian spoke about the bank’s investment conditions and expressed interest in cooperating with Mongolia.

The Prime Minister underlined that Mongolia has supported the initiative to establish the AIIB from the very beginning. He noted that Mongolia closely observes the activities of the AIIB and hopes that its future activities will be successfully carried out.

Following his meeting with the PM, Vice President Pandian was received by Minister of Roads and Transportation D.Ganbat to discuss investments in developing Mongolia’s transportation infrastructure sector.

Beginning the meeting, Minister Ganbat underlined that Mongolia, China, and Russia are establishing an economic corridor program. He said that through the program the three countries will collaborate on over ten road and railway development projects.

Minister Ganbat said, “Estimates show that Mongolia will need around 10,000 freight trains in the near future, in connection with the nation’s mining and industrial development. We need financing to implement a project to build a freight train fabrication factory. We also need to expand and renovate 205 kilometers of paved roads with socio and economic importance, connecting Ulaanbaatar to Darkhan, and to upgrade Umnugovi Province’s Gurvan Saikhan Airport to receive international flights. We want to cooperate with the AIIB in implementing these projects.”

The AIIB delegates promised to conduct comprehensive studies of the Minister’s proposals and closely cooperate with Mongolia.

The UB Post was first founded in 1996, and has since become Mongolia’s leading English-language news outlet. As part of the broader Mongol News group, the UB Post provides comprehensive coverage of social, economic and political developments in Mongolia and elsewhere.